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Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

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Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received Federal Reserve Release H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received No. 44 Week Ending October 31, 1998 Board of Governors of the Federal Reserve System, Washington, DC 20551 H.2 Board Actions October 25, 1998 to October 31, 1998 Bank Holding Companies Charter One Financial, Inc., Cleveland, Ohio, and Charter-Michigan Bancorp, Inc. -- to acquire ALBANK Financial Corporation, Albany, New York, and ALBANK Commercial; to acquire the nonbanking subsidiaries of ALBANK Financial Corporation; and to retain some of Charter One's nonbanking subsidiaries. - Approved, October 28, 1998 Firstar Corporation, Milwaukee, Wisconsin -- to merge with Star Banc Corporation, Cincinnati, Ohio, and acquire Star Bank, N.A. - Approved, October 28, 1998 SunTrust Banks, Inc., Atlanta, Georgia -- to acquire Crestar Financial Corporation, Richmond, Virginia, and Crestar Bank, and to acquire the nonbanking subsidiaries of Crestar Financial Corporation. - Approved, October 28, 1998 U.S. Bancorp, Minneapolis, Minnesota -- to acquire Northwest Bancshares, Inc., Vancouver, Washington, and Northwest National Bank. - Approved, October 26, 1998 Regulations And Policies Basle Committee on Banking Supervision -- interpretation of the Basle framework for capital adequacy concerning instruments eligible for inclusion in Tier 1 capital. - Announced, October 27, 1998 Reserve Bank Services Net Settlement Services -- final action to enhance Federal Reserve net settlement services (Docket No. R-0974). - Approved, October 29, 1998 (AC) = Addition or Correction Board - Page 1 of 1 H.2 Actions under delegated authority October 25, 1998 to October 31, 1998 BS&R Banking Supervision and Regulation RBOPS Reserve Bank Operations and Payment C&CA Consumer and Community Affairs IF International Fiance FOMC Federal Open Market Committee OSDM Office of Staff Director for Management Bank Branches, Domestic Chicago Comerica Bank, Detroit, Michigan -- to establish a branch at 5270 Eastern Avenue, S.E., Grand Rapids, Michigan. - Approved, October 28, 1998 Kansas City Eaton Bank, Eaton, Colorado -- to establish a branch at 3598 State Highway 119, Longmont, Colorado. - Approved, October 26, 1998 New York European American Bank, Uniondale, New York -- to establish a branch at Waldbaum's Supermarket, 5500 Sunrise Highway, Massapequa, New York. - Approved, October 26, 1998 Atlanta Fifth Third Bank of Florida, Naples, Florida -- to establish a branch at 5636 Tavilla Circle. - Approved, October 26, 1998 Richmond Metro-County Bank of Virginia, Inc., Mechanicsville, Virginia -- to establish a branch at 2801 Parham Road, Richmond, Virginia. - Approved, October 27, 1998 Bank Holding Companies Chicago Ambank Holdings, Inc., Davenport, Iowa -- to acquire American Bank and Trust Company. - Approved, October 29, 1998 (AC) = Addition or Correction Delegated - Page 1 of 12 H.2 Actions under delegated authority October 25, 1998 to October 31, 1998 Bank Holding Companies St. Louis Area Bancshares Corporation, Owensboro, Kentucky -- to acquire through merger Peoples Bancorp of Winchester, Inc., Winchester, Kentucky, and Peoples Commercial Bank. - Approved, October 29, 1998 Chicago Arenzville Bancorp, Inc., Arenzville, Illinois -- to acquire First National Bank of Arenzville. - Approved, October 28, 1998 St. Louis Arvest Bank Group, Inc., Bentonville, Arkansas -- to acquire shares of TRH Bank Group, Inc., Norman, Oklahoma. - Approved, October 29, 1998 Atlanta CCB Bancshares, Inc., Hahira, Georgia -- to acquire The Remerton Agency, Inc., Remerton, Georgia, d/b/a Star Insurance Agency, and engage in general insurance activities in a town with a population of less than 5000. - Withdrawn, October 30, 1998 Chicago Community Bancshares Corp., Indianola, Iowa -- to acquire Fort Des Moines Community Bank, Des Moines, Iowa. - Approved, October 29, 1998 Atlanta Community National Bank Corporation, Venice, Florida -- to acquire Community Advisory Services, Inc.; Community Financial Centers, Inc.; and Community Investment Centers, Inc.; and engage in investment advisory, securities brokerage, and financial advisory services. - Approved, October 28, 1998 Secretary First Citizens Bancshares, Inc., Dyersburg, Tennessee -- to acquire First Volunteer Corporation, Union City, Tennessee, and First Volunteer Bank. - Approved, October 29, 1998 (AC) = Addition or Correction Delegated - Page 2 of 12 H.2 Actions under delegated authority October 25, 1998 to October 31, 1998 Bank Holding Companies San Francisco First Coastal Bancshares, El Segundo, California, and California Community LLC, Los, Angeles, California -- waiver of application to acquire American Independent Bank, N.A., Gardena, California. - Granted, October 27, 1998 Chicago Grabill Bancorp, Grabill, Indiana -- to acquire Grabill Bank. - Approved, October 28, 1998 New York Greene County Bancorp, MHC, Catskill, New York, and Greene County Bancorp, Inc. -- to acquire Greene County Savings Bank. - Approved, October 29, 1998 Richmond Mid-Atlantic Community BankGroup, Inc., Gloucester, Virginia -- to merge with United Community Bankshares, Inc., Franklin, Virginia. - Approved, October 29, 1998 Boston Mutual Bancorp of the Berkshires, Inc., Pittsfield, Massachusetts -- to engage in certain trust activities through the acquisition of shares of Trust Company of the Berkshires, N.A. - Approved, October 26, 1998 New York Oneida Financial, MHC, Oneida, New York, and Oneida Financial Corp. -- to acquire Oneida Savings Bank. - Approved, October 29, 1998 Atlanta OSG Investments, Inc., Tallahassee, Florida -- to acquire Florida Citizens Bank, Ocala, Florida. - Approved, October 29, 1998 (AC) = Addition or Correction Delegated - Page 3 of 12 H.2 Actions under delegated authority October 25, 1998 to October 31, 1998 Bank Holding Companies Secretary SouthTrust Corporation, Birmingham, Alabama -- to engage in underwriting and dealing in, to a limited extent, certain unrated municipal revenue bonds and private ownership industrial development bonds for certain government utility services through SouthTrust Securities, Inc.. - Approved, October 27, 1998 Atlanta Synovus Financial Corporation, Columbus, Georgia -- to acquire Georgia Bank & Trust Company, Calhoun, Georgia. - Approved, October 29, 1998 New York United Overseas Bank Limited, Singapore -- to engage through UOB Global Capital LLC, a Delaware Limited Liability Company, in performing activities of an agency or custodial nature that may be performed by a trust company and providing financial and investment advisory services. - Approved, October 22, 1998 (AC) New York Valley National Bancorp, Wayne, New Jersey -- to acquire shares of Vista Bancorp, Inc., Phillipsburg, New Jersey. - Approved, October 29, 1998 Bank Mergers Cleveland Citizens Banking Company, Salineville, Ohio -- to merge with Century National Bank & Trust Company, Rochester, Pennsylvania, and establish branches. - Approved, October 27, 1998 Secretary Security Bank, Ralls, Texas -- to merge with First State Bank, Petersburg, Texas, and establish a branch at the current site of First State Bank's main office. - Approved, October 26, 1998 (AC) = Addition or Correction Delegated - Page 4 of 12 H.2 Actions under delegated authority October 25, 1998 to October 31, 1998 Banks, Nonmember, And Miscellaneous Institutions Director, BS&R Banque Nationale de Paris, New York Branch, New York, New York -- transfer agent registration. - Approved, October 27, 1998 Dallas Kraft America Credit Union, Garland, Texas -- deregistration under Regulation U. - Approved, October 27, 1998 Banks, State Member Atlanta Bank at Ormond-by-the-Sea, Ormond Beach, Florida -- waiver of commitment concerning certain investment securities. - Granted, October 23, 1998 (AC) Kansas City First United Bank, Neligh, Nebraska -- to declare a dividend. - Approved, October 28, 1998 St. Louis Peoples Bank and Trust Company of Lincoln County, Troy, Missouri -- to acquire certain assets and assume the liabilities of Winfield Banking Company, Winfield, Missouri, and retain its facility at 103 Pine Street as a full service branch. - Approved, October 28, 1998 Atlanta Republic Security Bank, West Palm Beach, Florida -- to acquire certain assets and assume certain liabilities of two branches of House Bank, F.S.B., Wood Dale, Illinois, located at 777 South Harbour Island Boulevard, Tampa, Florida, and 400 North Bumby Avenue, Orlando. - Approved, October 28, 1998 (AC) = Addition or Correction Delegated - Page 5 of 12 H.2 Actions under delegated authority October 25, 1998 to October 31, 1998 Banks, State Member St. Louis Winfield Bank, Winfield, Missouri -- to purchase certain assets and assume the liabilities of the Kahoka, Palmyra, and Monroe City, Missouri, branches of Allegiant Bank, St. Louis; relocate Winfield Bank's main office to 249 N. Morgan Street, Kahoka; and retain the acquired facilities at 423 Elizabeth Avenue, Palmyra, and 8 Mark Twain Center, Monroe City, as full service branches. - Approved, October 28, 1998 Capital Stock Minneapolis Goose River Holding Company, Mayville, North Dakota -- redemption of shares. - Approved, October 29, 1998 Change In Bank Control St. Louis First Sandoval Bancorp, Inc., Sandoval, Illinois -- change in bank control. - Permitted, October 30, 1998 Kansas City InterBank, Inc., Sayre, Oklahoma -- change in bank control. - Permitted, October 28, 1998 Minneapolis Kelliher Bancshares, Inc., Kelliher, Minnesota -- change in bank control. - Permitted, October 26, 1998 Minneapolis Plainview Bancshares, Inc., Plainview, Minnesota
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